Agent for Perfection. First Lien Agent and First Lien Co-Agent, on the one hand, and Second Lien Agent, on the other hand, each agree to hold all Control Collateral and Cash Collateral, as applicable, in their respective possession, custody, or control (or in the possession, custody, or control of agents or bailees for either) as a non-fiduciary agent for the other solely for the purpose of perfecting the security interest granted to each in such Control Collateral or Cash Collateral subject to the terms and conditions of this Section 2.
Appears in 4 contracts
Samples: Credit Agreement (Salton Inc), Credit Agreement (Salton Inc), Intercreditor Agreement (Salton Inc)
Agent for Perfection. First Lien Agent and First Lien Co-Agent, on the one hand, and Second each Junior Lien Agent, on the other hand, each agree to hold all Control Collateral and Cash Collateral, as applicable, in their respective possession, custody, or control (or in the possession, custody, or control of agents or bailees for either) as a non-fiduciary agent for the other solely for the purpose of perfecting the security interest granted to each in such Control Collateral or Cash Collateral subject to the terms and conditions of this Section 2.
Appears in 1 contract
Samples: Amended And (Salton Inc)